Reuters
Published: 03 Jun 2021 10:22 AM BdST
Updated: 03 Jun 2021 10:22 AM BdST People walk at a crowded market in the old quarters of Delhi, India, April 6, 2021. REUTERS
Expectations for India’s economic growth are being revised sharply lower as a surge in people losing their jobs and defaulting on debt suggest a more halting recovery from the financial shock of the COVID-19 pandemic. );
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Economists are downgrading their estimates as a range of data – from the rate of cheques bouncing to the amount of mortgaged gold jewellery up for sale - shows the extent of the economic damage from a devastating second wave of the disease.
India's economy has been hit hard by the second wave of the Covid-19 pandemic. Though it appears that the economic damage during the second wave has been less than 2020, key growth indicators indicate otherwise. Here is all you need to know.
Coronavirus disaster leaves deep scars on India s economy
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Coronavirus disaster leaves deep scars on India s economyBy Aftab Ahmed, Aditi Shah, Nupur Anand, Reuters
Last Updated: Jun 02, 2021, 07:21 PM IST
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Synopsis
Economists are downgrading their estimates as a range of data - from the rate of cheques bouncing to the amount of mortgaged gold jewellery up for sale - shows the extent of the economic damage from a devastating second wave of the disease.
PTI
Expectations for India s economic growth are being revised sharply lower as a surge in people losing their jobs and defaulting on debt suggest a more halting recovery from the financial shock of the COVID-19 pandemic.
Read more about Coronavirus disaster leaves deep psychological scars on India s economy on Business Standard. Banks begin to slash FY22 growth forecasts; personal credit defaults and unemployment rising